GQG Partners – 2024 Preliminary Final Report Summary
Overall Tone
GQG Partners delivered a strong financial performance for 2024, reporting substantial growth in revenue, net income, and funds under management (FUM). The company remains focused on delivering long-term investment outperformance while strategically expanding its global footprint and private capital solutions business.
Financial Results (Per Share Where Applicable)
| Metric | 2024 | 2023 | % Change |
|---|---|---|---|
| Revenue | $760.4M | $517.6M | +46.9% |
| Adjusted EBITDA | $577.9M | $384.4M | +50.4% |
| Operating Cash Flow | Not explicitly stated, but strong growth indicated | ||
| Adjusted Earnings Before Tax (EBT) | $586.9M | $386.9M | +51.7% |
| Normalised EPS | $0.15 | $0.10 | +52.3% |
Outlook Commentary
GQG remains optimistic about 2025, citing strong net inflows, ongoing investment in talent and geographic expansion, and continued demand for active investment management. The firm expects further growth in its wholesale and sub-advisory channels, particularly in Australia, Canada, and the Middle East.
Guidance Statements
- Management remains committed to organic and inorganic growth, leveraging strong investment performance and global distribution capabilities.
- The company anticipates sustained FUM growth, supported by both market performance and net inflows.
- The newly established Private Capital Solutions (PCS) business is expected to contribute to long-term diversification, though its near-term impact on financial results will be limited.
Results vs Market Expectations
The 52.8% increase in net income and strong FUM growth exceeded market expectations, reinforcing GQG’s reputation as a high-growth investment boutique. The firm’s ability to generate $20.2 billion in net inflows—nearly double the previous year’s $10.2 billion—was a standout achievement in a competitive asset management industry.
Market Positioning
- Share Price Performance: Prior to the earnings report, GQG’s share price showed positive momentum, reflecting investor confidence.
- Recent Trends: Given the strong earnings and inflows, GQG is well-positioned to attract further interest from both institutional and retail investors.
Disclaimer: This information is provided purely for educational purposes. It takes no account of an individual’s personal financial circumstances and hence can in no way constitute financial advice. The above data may be subject to errors or inconsistencies for which the author takes no liability. It is imperative that all investors do their own research or, if they need advice, seek it from a qualified financial adviser.
Quick Take: FY2024 ASX:GQG